E-Commerce

Big merchants like Amazon.com Inc. are celebrated for virtually friction-free transaction flows, and now that’s putting pressure on the point-of-sale vendors that serve small businesses. That’s because clients want the same kind of experience for their customers, but don’t know how to go about it, a panel of experts said …

The end of Bank of America Merchant Services, a merchant-acquiring joint venture between Bank of America Corp. and First Data Corp., is at hand.  Charlotte, N.C.-based BofA said Monday it will pursue an independent merchant-acquiring strategy beginning in June 2020, though First Data, which that same day became part of …

Mastercard Inc. saw strong growth in its core business in the second quarter, a time when the network continued its push for contactless cards and development of the new Secure Remote Commerce system for online payments. Mastercard said it switched 21.4 billion transactions globally in the three months ending June …

Major credit card issuer Capital One Financial Corp. said it detected a data breach this month in which an intruder gained access to records affecting 100 million persons in the United States and 6 million in Canada. Affected data included such information as names, addresses, Zip Codes, and dates of birth, though …

Fiserv Inc. formally announced the closing of its $22-billion, all-stock acquisition of processing giant First Data Corp.MagTek Inc. said its DynaPro Go PIN pad now offers Bluetooth LE connectivity. The company also launched its iDynamo 6 mobile card reader that works with iOS, Android, and Windows operating systems.Utah’s Deer Valley Resort said it detected malware on May …

First Data Corp. and Fiserv Inc. expect to close Monday on Fiserv’s $22-billion acquisition of First Data. The deal, announced in January, has received final required regulatory approvals and non-objections, First Data said. First Data announced $2.49 billion in revenue for the second quarter, up 2% year-over-year.A group of Congressional Democrats, including presidential …

PayPal Holdings Inc.’s payments juggernaut shows no signs of weakening, but the company has found its latest product integrations bedeviled by slowdowns, forcing it to postpone some expected revenue. One such integration with bill-payment specialist Paymentus Corp. is a crucial one because it will allow PayPal to enter an enormous, …

Facebook Inc. chief executive Mark Zuckerberg says his massive social-networking company is using an open process to get its proposed Libra cryptocurrency into the market and won’t roll it out until all concerns are addressed. Zuckerberg fielded questions about the controversial Libra project at the company’s second-quarter earnings conference call …

Discover Financial Services’ Payment Services unit reported its transaction volume grew 8% year-over-year to $61.8 billion, a result that included 7% growth for its Pulse electronic funds transfer network. Overall, total Discover revenue net of interest expense increased 10% to $2.85 billion, while net income jumped 13% to $753 million.In related …

Square Inc. is getting into the photography business as yet another way to add auxiliary services beyond payments designed to attract and retain merchants. The new service, dubbed Square Photo Studio, enables merchants, or sellers in Square’s lingo, to ship products to a Square studio in Brooklyn, N.Y., where they …